HomeMy Public PortalAboutCPC Packet 020823Town of Brewster Community Preservation Committee
2198 Main St., Brewster, MA 02631
cpcmeeting@brewster-ma.gov
(508) 896-3701
MEETING AGENDA
Brewster Town Hall
2198 Main Street
February 8, 2023 at 4:00 PM
Pursuant to Chapter 107 of the Acts of 2022, this meeting will be conducted in person and via remote means, in accordance
with applicable law. This means that members of the public body may access this meeting in person, or via virtual means. In
person attendance will be at the meeting location listed above, and it is possible that any or all members of the public body
may attend remotely. No in-person attendance of members of the public will be permitted, and public participation in any
public hearing conducted during this meeting shall be by remote means only.
The meeting may be viewed by: Live broadcast (Brewster Government TV Channel 18), Livestream (livestream.brewster-ma.gov),
or Video recording (tv.brewster-ma.gov).
Members of the public who wish to access the meeting may do so in the following manner:
1.Phone: Call (929) 436-2866 or (301) 715-8592.Webinar ID: 837 7728 4808 Passcode: 326439
To request to speak: Press *9 and wait to be recognized.
2.Zoom Webinar: https://us02web.zoom.us/j/83777284808?pwd=NjB3WldRTGRxb0l0WXhIS1J0Y1NOQT09
Passcode: 326439
To request to speak: Tap Zoom “Raise Hand” button or type “Chat” comment with your name and address, then wait to be
recognized.
When required by law or allowed by the Chair, persons wishing to provide public comment or otherwise participate in the
meeting, may do so by accessing the meeting remotely, as noted above.
Community
Preservation
Committee
Faythe Ellis
Chair
Sarah Robinson
Vice Chair
Sharon Marotti
Treasurer
Elizabeth Taylor
Clerk
Roland Bassett Jr.
Christine Boucher
Bruce Evans
Peggy Jablonski
Paul Ruchinskas
CPC Assistant
Beth Devine
1.Call to order
2.Meeting participation statement
3.Declaration of a quorum
4.Public Announcements and Comment – Members of the public can address the Community
Preservation Committee on matters not on the meeting’s agenda for a maximum of 3-5
minutes at the Chair’s discretion. Under the Open Meeting Law, the CPC is unable to reply,
but may add items presented to a future agenda
5.Financial Update
6.Discussion and possible vote on funding recommendation (amount, source,
stipulations, liaison) for application from FORWARD (Friends or Relatives with
Autism or Related Disabilities) for $120,000 toward Phase II of Forward at the Rock.
7.Discussion and possible vote on funding recommendation (amount, source,
stipulations, liaison) for application from Housing Assistance Corp. (HAC) for
$50,000 toward 107 Main Street, Orleans
8.Discussion and possible vote on funding recommendation (amount, source,
stipulations, liaison) for application from POAH/CDP for $100,000 toward Juniper
Hill in Wellfleet
9.Approval of minutes from 1/11/23
10.Conflict of Interest Training reminder
11.Project updates
12.Items not reasonably anticipated by the Chair
13.Announcements
14.Next meeting: February 24, 2023
15.Motion to Adjourn
Date Posted: Date Revised:
2/6/23
Community Preservation Committee: FY24 Forecast as of 2/4/2023
3,435,339$
1,223,691$
358,153$
1,581,844$
Pre FY24
10%10%10%
Open Space/Recreation Housing Historical
$ 1,933,167 $ 130,859 $ 287,924 $ - $ 1,083,388 3,435,338.61$
$ 158,184 $ 158,184 $ 158,184 $ 1,107,291 1,581,844.03$
$ 2,091,351 $ 289,043 $ 446,109 $ 1,107,291 $ 1,083,388
Open Space Housing Historical "30%"
$ (49,050)
$ (94,400)
$ (46,183)
79,092$
Requests for Spring 2023 TM (Pending /Approved )
Housing Coordinator (70,580)(70,580)$
Total YTD Obligations - fy24 $ (189,633) $ - $ - $ 79,092 $ (70,580)
$ 1,901,718 $ 289,043 $ 446,109 $ 1,186,383 $ 1,012,808 4,836,061.84$
Total net available from all accounts
Juniper Hill Wellfleet ($100,000)
FORWARD Phase 2 ($120,000)
Accessible Outdoor Furniture ($9670)
FY-24 Estimated Funds available
FY-22 Estimated total balance forwarded [1]:
FY-23 Estimated local tax revenue:
FY-23 Estimated State contribution [2]:
Total FY-24 Estimated funds available:
Budgeted Reserved for
CPA
Undesignated Fund
Balance
FY-23 Actual Unreserved Open Space Fund Balance with Original
Match(4)
FY-24 Estimated revenue
fy24 Estimated Unreserved Fund Balance as of 07/01/2023 with
Adjustments
FY-24 obligations as of 07/01/2023
BBJ Property Bond #1
BBJ Property Bond #2
Bates Property Bond
Administration Expense [3]
107 Main Street Orleans ($50,000)
[1] Balance forwarded estimated from prior year includes all unallocated funds, including unspent amounts from projects and budgeted administrative and professional
(2) State Match revenue is projected at 30%
[3] Administrative expenses are limited by law to 5% of the total CPC budget and include primarily payroll costs, legal and other professional expenses, the annual $4,350 state
Coalition dues.
[4] Open Space carryover is reserved for Open Space only per the original formula.
BONDS
BONDS
Housing Trust 5 Year-Plan FY23-27
11.16.22
FY23 FY24 FY25 FY26 FY27
Carryforward Balance 1,195,879 1,190,879 893,879 714,569 1,053,821
Anticipated Revenues 1,891,900 2,870,580 2,344,461 2,519,557 2,425,927
Appropriations 1,896,900 3,167,580 2,523,771 2,180,304 2,567,196
End Balance 1,190,879 893,879 714,569 1,053,821 912,553
FY23 FY24 FY25 FY26 FY27
Projects:Funding Source
Housing Coordinator CPA- Salary Only 66,900 70,580 74,461 78,557 82,877 Benefits paid by the Town-approx. 35K/ year
Housing Program Asst.BAHT Salary Only -42,000 44,310 46,747 49,318 19 Hours- new non-benefitted position
Rental Assistance CPA 150,000 150,000 150,000
Preservaton of SHI Homes CPA 300,000 200,000
Buy Down Program CPA 300,000 300,000
Housing Production Plan CPA 30,000
212 Yankee Drive BAHT 75,000
Town Development of Other Properties BAHT 500,000 500,000
Outside Applications for Funding BAHT 50,000 50,000 50,000 50,000
Millstone Road Community Housing CPA/BAHT 1,000,000
Legal Expenses CPA/BAHT 5,000 5,000 5,000 5,000 5,000
Housing Rehabilitation-Child Care Vouchers CDBG-Regional Grant 1,300,000 1,500,000 1,700,000 1,700,000 1,700,000 Town is lead community for Dennis, Wellfleet and Brewster
Total Appropriations:1,896,900 3,167,580 2,523,771 2,180,304 2,567,196
Sources
Short Term Rentals Allocation 375,000 400,000 420,000 441,000 463,050 Financial Forecast 5% escalator
CPA Housing Coord. Wages 66,900 70,580 74,461 78,557 82,877
CPA Rental Assistance 150,000 150,000 150,000
CPA for SHI Homes -200,000
Proceeds on Re-sale of SHI Homes 150,000
CPA Buy Down 300,000 300,000
CPA Housing Production Plan 30,000
CPA Millstone Rd. Community Housing 250,000
Grants & Donations
Community Development Block Grant (CDBG)1,300,000 1,500,000 1,700,000 1,700,000 1,700,000
Total Revenues:1,891,900 2,870,580 2,344,461 2,519,557 2,425,927
CPA Rev 216,900 820,580 224,461 378,557 262,877
CPA Exp 516,900 570,580 224,461 378,557 262,877 390,675.00 5 year average
Estimated annual CPA revenue 1,492,304 1,529,612 1,567,852 1,607,048 1,647,225
Target Allocation Policy- Housing 30%447,691 458,884 470,356 482,115 494,167
TAP - Open Space 30%447,691 458,884 470,356 482,115 494,167
TAP - Recreation 10%149,230 152,961 156,785 160,705 164,722
TAP- Historic 10%149,230 152,961 156,785 160,705 164,722
CPA Recommended 20%298,461 305,922 313,570 321,410 329,445
1,492,304 1,529,612 1,567,852 1,607,048 1,647,225
Memorandum
To: CPC members
From: Faythe Ellis
Re: Link to CPA funding requests on 2/8/23 agenda
2/4/23
The applications can be accessed via this link: : CPA Funding Applications 12.1.22
(laserfiche.com) . Legal Counsel has confirmed that all applications are CPA eligible.
Applications for Housing Partnership Review and Recommendation:
1. Housing: 107 Main Street, Orleans – Affordable Rental Housing. Application begins on page
1. Applicant (Housing Assistance Corp.) proposes to develop a 1.25 acre parcel in Orleans as 14
affordable rental units. The units will be a mix of 9 one-bedroom, 4 two-bedroom, and 1 three
bedroom unit. All units will be deed restricted for households at or below 80% AMI. Request is
$50,000.
2. Housing: Juniper Hill, Wellfleet. Application begins on page 112. Applicants (Preservation of
Affordable Housing/Community Development Partnership) propose to develop 46 affordable
housing units in Wellfleet. The property will be divided into 2 parts: An Upper Village of 22 two
bedroom and three bedroom town homes oriented for family housing and a Lower Village with
24 one and two bedroom flats. 35 of the 46 apartments will be targeted for families earning at
or below 80% AMI with 11 apartments intended as workforce housing for households earning
up to 120% AMI. Request is $100,000.
3. Housing: Forward at the Rock, Phase II in Dennis. Application begins on page 164. Applicant
(FORWARD) proposes to construct 8 affordable and supportive one bedroom apartments for
Cape Codders with autism and related disabilities. The project is in Dennis. Tenant selection
will be handled by MA Department of Developmental Services. The units are targeted to adults
with developmental disabilities who earn <30% of AMI. As you recall, Brewster did contribute
$75,000 in CPA funding for Phase 1 of this project a couple of years ago.
From: David Quinn
Sent: Thursday, January 5, 2023 2:43 PM
To: Faythe Ellis
Cc: dpansire@capecodfive.com; Sarah E. Robinson; Jill Scalise; Donna Kalinick
Subject: RE: Brewster CPC application - 107 Main Street, Orleans, next steps
Thank you Faythe,
I will coordinate with the Brewster Housing Partnership to get on an upcoming agenda. I’ll also be prepared to address
the questions that your members posed. In the meantime, feel free to share the following info about some of the
environmental and energy efficiency measures included in the project:
The 107 Main Street project has received local permits from all required regulatory boards in Orleans including
the Zoning Board of Appeals, Board of Health, Architectural Review Committee, and the Site Plan Review
Committee (which is made up of Town Department heads for Conservation, Health, Fire, Police, Building etc.)
This is a redevelopment of a previously developed site that will actually reduce the total paved/parking area and
only slightly increase the total impervious area (see the chart below). Stormwater management on the site will
be significantly improved over the existing use by providing a centralized stormwater treatment and infiltration
system. The current site has no stormwater management system.
Tabulation of Ground Area Coverages
The Project’s wastewater will be managed by an Innovative Alternative (I/A) Septic System with nitrogen
removal capability.
The plans include native low maintenance landscaping to minimize mowing and watering.
We are working closely with Cape Light Compact to meet the requirements of their “Enhanced Incentives for
Low- and Moderate-Income Projects” program. The building will include high efficiency electric heating/cooling,
high R-value insulation above code requirements, and energy star certified appliances. We are also exploring the
possibility of solar on the site.
We plan to have “Electric Vehicle Ready” parking by providing underground electrical conduits to the parking lot,
so that if there is a demand for electric vehicles in the future, they can be easily added.
The biggest factor in determined whether some of these added project features can be included is cost, so we
look forward to discussing our funding application with the CPC.
Best,
David Quinn
Director of Housing Development and Planning
Housing Assistance Corporation
dquinn@haconcapecod.org
508-771-5400 x288 | Cell: 508-280-8465
MAX REVENUE POTENTIAL Monthly Annual
Number of Units 1 1 8 3 1 14 14
Average Monthly Rent per Unit (90-95% of max allowable)1,708$ 2,248$ 1,338$ 1,702$ 1,934$ 1,550$ 18,601$
Total Rental Income 1,708$ 2,248$ 10,706$ 5,105$ 1,934$ 21,701$ 260,417$
Other Monthly Income (laundry, vending, parking, etc.)PBV - 1BR PBV - 2BR 1BR 2BR 3BR -$ -$
POTENTIAL GROSS INCOME 21,701$ 260,417$
MAXIMUM SUPPORTABLE LOAN AMOUNT
Poential Gross Income (PGI)260,417$ From above
Vacancy Rate 5%Input
Vanancy Loss (V)(13,021)$ PGI * V%
Effective Gross Income (EGI) 247,397$ PGI - V
Annual Operating Expenses (Op Ex)(124,005)$ Input
Net Operating Income (NOI)123,392$ EGI - Op Ex
Debt Service Ratio (DSR)1.15 From lender
Funds Available for Debt Service (FADS)107,297$ NOI * DSR
Interest Rate 7.0%From lender
Amortization Term - Years 40 From lender
Annual Constant (AC)0.0741 From table
Maxium Supportable Loan Amount 1,447,237$ FADS/AC
Cash Flow Before Taxes 16,094.56$
Edit only the highlighted cells.
Property Summary Proforma - 107 Main St. Orleans
Monthly per Unit
https://haconcapecod.sharepoint.com/sites/HDDTeam/Shared Documents/Housing Development Projects/107 Main Street, Orleans/CPC Applications/Brewster CPC/ 107 Main Street_ Operating Budget and Loan Analysis 1/11/2023 1:08 PM
Management Fee Percentage 4.50%
Operating Expense Budget Per Unit Per Month
Management Fee 11,718.78$ 69.75$
Payroll, Administrative 17,000.00$ 101.19$
Payroll Taxes & Benefits, Admin.-$ -$
Legal 600.00$ 3.57$
Audit -$ -$
Marketing -$ -$
Telephone 1,000.00$ 5.95$
Office Supplies 500.00$ 2.98$
Training -$ -$
Accounting & Data Processing 750.00$ 4.46$
Investor Servicing -$ -$
LIHTC Monitoring Fee -$ -$
HOME Monitoring Fee -$ -$
LIP Monitoring Fee -$ -$
DHCD Capital Subsidy Monitoring Fee -$ -$
Other Admin (trainings, postage, etc)5,500.00$ 32.74$
Other Staffing / Travel 860.00$ 5.12$
Other -$ -$
Subtotal: Administrative 26,210.00$ 156.01$
Payroll, Maintenance 17,000.00$ 101.19$
Payroll Taxes & Benefits, Admin.7,500.00$ 44.64$
Janitorial Materials 250.00$ 1.49$
Lock and Key Replacement -$
Landscaping 20,400.00$ 121.43$
Decorating (inter. Only)3,000.00$ 17.86$
Repairs (inter. & ext.)6,500.00$ 38.69$
Elevator Mainenance -$
Trash Removal 450.00$ 2.68$
Snow Removal 4,500.00$ 26.79$
Extermination 1,800.00$ 10.71$
Recreation -$
Other Major Repairs 2,500.00$ 14.88$
Other -$
Subtotal: Maintenance 63,900.00$ 380.36$
Resident Services -$ -$
Security -$ -$
Other -$ -$
Electricity 200.00$ 1.19$
Natural Gas -$ -$
Oil -$ -$
Water & Sewer 2,500.00$ 14.88$
Subtotal: Utilities 2,700.00$ 16.07$
Replacement Reserve 5,600.00$ 33.33$
Operating Reserve -$
Subtotal Reserves 5,600.00$
Real Estate Taxes -$ -$
Other Taxes -$ -$
Insurance -$ -$
MIP -$ -$
Taxes and Insurance $12,876.12 76.64$
Other 1,000.00$ 5.95$
Subtotal: Taxes, Insurance 13,876.12$ 82.60$ Per Unit/YR
TOTAL EXPENSES 124,004.90$ 738.12$ 8,857.49$
Restricted Units - Income Limits and Max Rents Updated with 2022 HUD Income Limits
Source:https://www.masshousing.com/-/media/Files/Developers/Income-Rent-Limits/2021-HUD-Income-Rent-Limits.ashx
AMI 1-person 2-person 3-person 4-person 5-person 6-person
80%60,900$ 69,600$ 78,300$ 86,950$ 93,950$ 100,900$
Max Gross Rents*Studio 1 BR 2 BR 3 BR
80%1,522.50$ 1,631.25$ 1,957.50$ 2,261.25$
*Calculation of Rents based on 1.5 person per bedroom, with rent capped 30% of household income.
Utility Allowances
Source: 2022 Utility Allowances for Multifamily (5+ units)
Fuel Type 0BR 1BR 2BR 3BR 4BR 5BR 107 Main Street Notes
Utility
Heating Natural Gas 43$ 49$ 55$ 61$ 68$ 74$
Bottled Gas 66$ 77$ 90$ 102$ 115$ 128$
Electric 42$ 49$ 66$ 84$ 101$ 118$
Electric Heat Pump
Fuel Oil 54$ 63$ 73$ 84$ 94$ 105$
Other
Cooking Natural Gas 4$ 5$ 7$ 9$ 11$ 13$
Bottled Gas 8$ 9$ 13$ 17$ 21$ 25$
Electric 10$ 12$ 17$ 23$ 28$ 34$
Other
Other Electric 39$ 45$ 63$ 81$ 99$ 116$
Air Conditioning
Water Heating Natural Gas 10$ 12$ 17$ 22$ 27$ 32$
Bottled Gas 18$ 22$ 31$ 41$ 51$ 60$
Electric 26$ 31$ 40$ 48$ 57$ 66$
Fuel Other 15$ 18$ 26$ 34$ 41$ 49$
Water 54$ 56$ 70$ 91$ 113$ 134$
Sewer
Trash Collection 17$ 17$ 17$ 17$ 17$ 17$ Included in rent
Other - Specify
Range / Microwave
Refrigerator 47$ 47$ 47$ 47$ 47$ 47$ Included in rent
107 Main Street Allowances*193$ 256$ 327$
* assumption that all utilities are electric - subject to final design and specifications
Restricted Units Final affordable rents subject to change with HUD income limit adjustments and approval by state subsidizing agencies.
Unit Type # of Units Unit Size Max Gross
Rent
Utility
Allowance
(UA)*
Max
Allowabout
Rent
HAC current
proposed
% under max
allowable
1 BR (80% AMI)9 732-770 SF $ 1,631.25 $ 193.00 $ 1,438.25 $ 1,338.25 7%
2 BR (80% AMI)4 787 SF $ 1,957.50 $ 256.00 $ 1,701.50 $ 1,701.50 0%
3 BR (80% AMI)1 1064 SF $ 2,261.25 $ 327.00 $ 1,934.25 $ 1,934.25 0%
TOTAL 14
95 Lawrence Road | Wellfleet, MA 30% PBV 30% MRVP 50% MRVP 60% LIHTC 120% Workforce Total
46 Units 1BR 10 6 16
New Construction 2BR 5 1 5 9 5 25
3BR 3 2 0 5
Total 8 1 7 19 11 46
Rent Schedule 9 7 19 35
Residential Unit Rent Inputs
Unit Type Units Bedrooms Rent Program AMI Used for LIHTC Unit Size (SF)Utility Current FMR FMR SAFMR U/W Rent Max LIHTC
Constraint Allowance Market Rent 100%110%120%Dev Year Rent
2022 2022 2022 2022 2022 2022 97%
1BR 10 1 LIHTC Unassisted 60%Yes 750 57 - 1,131 1,223
2BR 9 2 LIHTC Unassisted 60%Yes 1,100 80 - 1,346 1,468
3BR - 3 LIHTC Unassisted 60%Yes 1,300 104 - - 1,695
1BR - PBV - 1 PBV 30%Yes 750 57 1,428 1,714 1,657 -
2BR - PBV 5 2 PBV 30%Yes 1,100 80 1,879 2,255 2,175
3BR - PBV 3 3 PBV 30%Yes 1,300 104 2,323 2,788 2,684
2BR - MRVP 1 2 LIHTC Unassisted 30%Yes 1,100 80 1,879 2,067 1,987
1BR - MRVP - 1 LIHTC Unassisted 50%Yes 750 57 1,428 1,571 1,514
2BR - MRVP 5 2 LIHTC Unassisted 50%Yes 1,100 80 1,879 2,067 1,987
3BR - MRVP 2 3 LIHTC Unassisted 50%Yes 1,300 104 2,323 2,555 2,451
1BR - 120% AMI " Workforce"6 1 Market 120%No 750 1,200 1,200
2BR - 120% AMI " Workforce"5 2 Market 120%No 1,100 1,400 1,400
3BR - 3 Market 120%No 1,300 - -
Total / Average 46 81 50.3%35 46,000 58 309 702 427 1,595 553
Gross 76%66,075 170,400 880,515
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partners Tab Rent Schedule - Unit Mix - p. 1 of 6
95 Lawrence Road | Wellfleet, MA
46 Units
New Construction
Cash Flow Projection & Waterfall
PIS - Perm Conversion6/1/2025 #####Year 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044
Disposition 12/31/2045 Development Project Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Operating Pro Forma Cash Flow Projection Increase/Rate
Economic Occupancy 95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%95%
Revenue
Total Rental Income 2.00%880,515 898,125 916,088 934,409 953,098 972,160 991,603 1,011,435 1,031,664 1,052,297 1,073,343 1,094,810 1,116,706 1,139,040 1,161,821 1,185,057 1,208,758 1,232,933 1,257,592 1,282,744
Total Vacancy (44,026) (44,906) (45,804) (46,720) (47,655) (48,608) (49,580) (50,572) (51,583) (52,615) (53,667) (54,740) (55,835) (56,952) (58,091) (59,253) (60,438) (61,647) (62,880) (64,137)
Vacancy 5.00%(44,026) (44,906) (45,804) (46,720) (47,655) (48,608) (49,580) (50,572) (51,583) (52,615) (53,667) (54,740) (55,835) (56,952) (58,091) (59,253) (60,438) (61,647) (62,880) (64,137)
Total Other Income 2.00%17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383 17,383
Effective Income 1.96%853,872 870,602 887,666 905,072 922,826 940,934 959,405 978,246 997,463 1,017,065 1,037,058 1,057,452 1,078,253 1,099,471 1,121,113 1,143,187 1,165,703 1,188,670 1,212,095 1,235,990
Check -
Expenses
Total Administrative Expenses 3.00%39,215 40,391 41,603 42,851 44,137 45,461 46,825 48,229 49,676 51,167 52,702 54,283 55,911 57,588 59,316 61,096 62,928 64,816 66,761 68,764
Total Payroll Expenses 3.00%124,073 127,795 131,629 135,577 139,645 143,834 148,149 152,594 157,171 161,886 166,743 171,745 176,898 182,205 187,671 193,301 199,100 205,073 211,225 217,562
Total Management Fee 3.00%31,464 32,408 33,380 34,382 35,413 36,475 37,570 38,697 39,858 41,053 42,285 43,554 44,860 46,206 47,592 49,020 50,490 52,005 53,565 55,172
Total Resident Services/Community Impact 3.00%27,500 28,325 29,175 30,050 30,951 31,880 32,836 33,822 34,836 35,881 36,958 38,066 39,208 40,385 41,596 42,844 44,129 45,453 46,817 48,221
Total Utility Expense 3.00%104,136 107,260 110,478 113,792 117,206 120,722 124,344 128,074 131,916 135,874 139,950 144,148 148,473 152,927 157,515 162,240 167,107 172,121 177,284 182,603
Total Maintenance Expense 3.00%66,688 68,689 70,749 72,872 75,058 77,310 79,629 82,018 84,478 87,013 89,623 92,312 95,081 97,933 100,871 103,898 107,015 110,225 113,532 116,938
Total Taxes & Insurance 3.00%59,800 61,594 63,442 65,345 67,305 69,325 71,404 73,546 75,753 78,025 80,366 82,777 85,261 87,818 90,453 93,166 95,961 98,840 101,805 104,860
Real Estate Taxes 3.00%23,000 23,690 24,401 25,133 25,887 26,663 27,463 28,287 29,136 30,010 30,910 31,837 32,793 33,776 34,790 35,833 36,908 38,015 39,156 40,331
Ground Lease 3.00%- - - - - - - - - - - - - - - - - - - -
Total Expenses (Before RR)452,875 466,461 480,455 494,869 509,715 525,006 540,757 556,979 573,689 590,899 608,626 626,885 645,692 665,062 685,014 705,565 726,732 748,534 770,990 794,119
Replacement Reserve Deposits 3.00%16,100 16,583 17,080 17,593 18,121 18,664 19,224 19,801 20,395 21,007 21,637 22,286 22,955 23,643 24,353 25,083 25,836 26,611 27,409 28,231
Total Expenses (with RR)3.00%468,975 483,044 497,536 512,462 527,836 543,671 559,981 576,780 594,084 611,906 630,263 649,171 668,646 688,706 709,367 730,648 752,567 775,144 798,399 822,351
-
Net Operating Income 384,897 387,557 390,130 392,610 394,990 397,264 399,425 401,466 403,380 405,159 406,795 408,281 409,607 410,765 411,746 412,539 413,136 413,525 413,697 413,639
DSCR:1.15 1.16 1.17 1.17 1.18 1.19 1.19 1.20 1.21 1.21 1.22 1.22 1.22 1.23 1.23 1.23 1.23 1.24 1.24 1.24
Cash Flow After Hard Debt Service 50,204 52,864 55,438 57,917 60,297 62,571 64,732 66,773 68,687 70,466 72,102 73,588 74,914 76,072 77,053 77,846 78,443 78,832 79,004 78,946
Interim Reserve / Sinking Fund Draw 401,834 - - - - - - - - - - - - - - - - - - - -
Cash Flow After Hard Debt Service and Reserve Withdrawal 50,204 52,864 55,438 57,917 60,297 62,571 64,732 66,773 68,687 70,466 72,102 73,588 74,914 76,072 77,053 77,846 78,443 78,832 79,004 78,946
Cash Flow per Unit 1,091 1,149 1,205 1,259 1,311 1,360 1,407 1,452 1,493 1,532 1,567 1,600 1,629 1,654 1,675 1,692 1,705 1,714 1,717 1,716
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partners Tab Development Cash Flow - p. 6 of 6
95 Lawrence Road | Wellfleet, MA
46 Units
New Construction
2021 2021
Yardi CoA #Underwritten Underwritten
per unit
Revenue
Economic Occupancy 95%
Rental Income
Tenant Rent 880,515 19,142
Rent Assistance Payments - -
Total Rental Income 880,515 19,142
Adjustments to Potential
Vacancy (44,026) (957)
Commercial Vacancy - -
Bad Debts - -
Gain/Loss on Leases - -
Tenant Concessions - -
Total Vacancy (44,026) (957)
Net Rental Income 836,489 18,185
Financial Income
Interest Income - Operations - -
Interest Income - Residual Receipts - -
Interest Income - Replacement Reserve - -
Interest Income - Other Investments - -
Total Financial Income - -
Other Income
Laundry & Vending Income 4,807 104
Tenant Charges 677 15
Commercial Revenue - -
Parking Income - -
Utility Reimbursements - -
Cable Income - -
Special Claims Revenue 11,899 259
Grant Revenue - 3rd Party - -
Grant Revenue - POAH - -
Miscellaneous Revenue - -
Total Other Income 17,383 378
Total Income 853,872 18,562
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partnersTab Detailed Operating Budget - p. 2 of 6
Expenses
Administrative
Education & Training 273 6
Advertising & Marketing 295 6
Property Inspections
Other Renting Expense - -
Office Supplies 2,024 44
Postage 433 9
Computer Expense 6,440 140
Compliance "Program Support"1,438 31
Consultant/Professional Fees 409 9
Compliance Fees 1,380 30
Technical Support - -
Legal Expense 3,578 78
Audit Expense 12,500 272
Bookkeeping/Accounting Expense 3,864 84
Central Office Expense - -
Telephone 2,443 53
Applicant Credit & Background 911 20
Travel & Mileage 1,345 29
Miscellaneous Admin. Expense 1,882 41
Total Administrative Expenses 39,215 852
Payroll
Office Salaries - -
Manager Salary 48,750 1,060
Maintenance Payroll - -
Maintenance Super Salary 47,250 1,027
Cleaning & Janitorial Payroll - -
Payroll Taxes 9,880 215
Workers' Compensation Insurance 3,088 67
Health Insurance & Other Employee Benefits 11,400 248
Retirement Benefits 3,705 81
Admin. Rent Free Unit - -
Maintenance Rent Free Unit - -
Union Benefits - -
Other Employee Benefits - -
Total Payroll Expenses 124,073 2,697
Management Fee
Management Fee 31,464 684
Total Management Fee 31,464 684
Resident Services
Resident Services Programs - -
Resident Services Mileage - -
Resident Services Computer Expense - -
Resident Services Telephone - -
Resident Services Payroll 27,500 598
Total Resident Services/Community Impact 27,500 598
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partnersTab Detailed Operating Budget - p. 3 of 6
Maintenance
Repair Supplies - General - -
Exterminating Supplies - -
Grounds & Rec Supplies 447 10
Cleaning/Janitorial Supplies 239 5
Plumbing Repairs/Maint Supplies - -
Hardware Supplies 505 11
Decorating Supplies 1,545 34
Miscellaneous Repair Contract - -
Exterminating Contract 869 19
Asphalt & Parking Repairs - -
Grounds & Rec Contract 18,391 400
Cleaning/Janitorial Contract 524 11
Electrical Repairs & Maint Contract - -
Plumbing Repairs & Maint Contract 4,937 107
Appliance Repairs & Maintenance 178 4
Decorating Contract 4,840 105
Swim Pool Maintenance/Contract - -
Carpet & Floor Repairs - -
Elevator Maintenance 5,995 130
Uniforms 108 2
Trash Removal 6,948 151
Security Payroll/Contract - -
Security Rent Free Unit - -
Security Agency & Alarm - -
Security Camera - Hardware & Monitoring - -
Heating/Cooling Repairs & Maintenance 2,278 50
Snow Removal 4,125 90
Fire/Life Safety Equipment Maintenance 6,379 139
Vehicle & Maintenance Equipment Repairs - -
Maintenance Tools & Equipment 39 1
Vacant Unit Preparation - -
Parking Area - -
Hurricane Prep/Repairs 8,342 181
Miscellaneous Maintenance Expense - -
Total Maintenance Expense 66,688 1,450
Total Controllable Expenses 288,939 6,281
Utilities & Tenancy for Comparison
Electric Tenant - E
Heat Owner - E
Hot Water Owner - E
Tenancy Family
Number of Units 46 units
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partnersTab Detailed Operating Budget - p. 4 of 6
Utilities
Fuel Oil - -
Electricity 36,800 800
Water 6,174 134
Gas - -
Sewer 60,000 1,304
Utility Fees - -
Cable TV/Internet Access 1,161 25
Total Utility Expense 104,136 2,264
Taxes & Insurance
Real Estate Taxes 23,000 500
Property & Liability Insurance 36,800 800
Flood Insurance - -
Earthquake Insurance - -
Fidelity Bond Insurance - -
Automobile Insurance - -
Misc. Taxes, Licenses, & Insurance - -
Total Taxes & Insurance 59,800 1,300
Adjustments
Ground Lease - -
Placeholder - -
Total Adjustments - -
Total Expenses (Before RRs) 452,875 9,845
Total Expenses per unit (before RRs)
Replacement Reserve Deposits 16,100 350
Total Operating Expenses 468,975 10,195
Net Operating Income 384,897 8,367
Principal & Interest Payment 334,693
MIP / Bond Fees -
Annual Hard Debt Service 334,693 7,276
Cash Flow After Hard Debt Service 50,204 1,091
DSCR 1.15
POAH Inc. Underwriting Model Confidential | For use by POAH and its financial partnersTab Detailed Operating Budget - p. 5 of 6
Community Preservation Committee
Minutes of January 11, 2023 Page 1 of 6
vd
2198 Main Street
Brewster, Massachusetts 02631-1898
(508) 896-3701
FAX (508) 896-8089
COMMUNITY PRESERVATION COMMITTEE
JOINT MEETING WITH
BREWSTER AFFORDABLE HOUSING TRUST
Hybrid Meeting
Wednesday, January 11, 2023, at 4:00 p.m.
MEETING MINUTES OF JANUARY 11, 2023
Present: Community Preservation Committee (CPC) – Chair Faythe Ellis, Vice-Chair Sarah Robinson,
Treasurer Sharon Marotti, Clerk Elizabeth Taylor, Bruce Evans, Roland Bassett, Paul Ruchinskas,
Peggy Jablonski, Christine Boucher
Affordable Housing Trust Fund – Chair Timothy Hackert, Vice-Chair Maggie Spade-Aguilar, Clerk Ned
Chatelain, Vanessa Greene, Assistant Town Manager Donna Kalinick, Paul Ruchinskas
Absent: Madalyn Hillis-Dineen
Also Present: Jill Scalise, Housing Coordinator
Chair Ellis called the meeting to order at 4:01 pm and announced a quorum.
Pursuant to Chapter 107 of the Acts of 2022, this meeting will be conducted in person and via remote means, in accordance with applicable
law. This means that members of the public body may access this meeting in person, or via virtual means. In person attendance will be at
the meeting location listed above, and it is possible that any or all members of the public body may attend remotely. No in-person
attendance of members of the public will be permitted, and public participation in any public hearing conducted during this meeting shall
be by remote means only.
1.Public Announcements and Comment- none
2.Discussion of Brewster Affordable Housing Trust (BAHT) Guidelines
Tim Hackert asked Jill Scalise to walk the committees through the Affordable Housing Trust Guidelines
adopted this year. Jill Scalise said in the packet for the meeting there is a Program Guidelines and
application document. It provides background information including the Mission Statement, the goals,
roles and responsibilities, and the current Housing trust priorities. Those priorities are things that will
come up in the meeting today, ie., developing and preserving affordable housing, supporting the creation
of community housing on the town owned Millstone Road property. Also, looking at the community
development block grant from the town, continuing to work to preserve the 3 subsidized housing
inventory of homes that are out of use and need some assistance. Additionally, one of the goals is to
work with the CPC to determine the future of the buy-down program, develop rules and guidelines, and
hold joint meetings with other committees such as the CPC. Beside that background information is
eligible activities that trust funds could be used for – such as housing preservation and improvement
activities. It includes support programs, i.e., the Brewster Rental Assistance Program which provides
assistance to low to moderate income households in Brewster, the Affordable Home Buyers Buy Down
Approved:
VOTE:
Community Preservation Committee
Minutes of January 11, 2023 Page 2 of 6
Program as well as the Community Development Block Grant Housing Rehabilitation and Childcare
Assistance Program. And then creation programs that are in development. Then there is funding
guidance, what are the criteria for determining/choosing an application for supporting selection criteria,
and the application itself so that now the Trust can accept applications from outside agencies or others to
access funding through the Housing Trust.
3.Discussion of proposed Housing Trust Financial Plan
Tim Hackert said the Housing Trust financial plan would be presented by Donna Kalinick and Ned
Chatelain who developed the plan. Donna Kalinick said one of the priority goals for the Housing Trust
and a goal in the Select Board Strategic Plan, as well, was to develop a 5-year financial plan for the
Housing Trust/Housing Program. The Finance Team including, Donna Kalinick, Peter Lombardi, Mimi
Bernardo, and Ned Chatelain working together to put together putting together the spreadsheet in the in
the packet. It was a difficult task because we have funding coming from different sources and we made
some assumptions as to where future funding might come from such as the CPC. Even though CDBG
funding community development block grant funding is from an outside source, it is on the Financial
Plan. When Sarah Robinson was a representative of the Housing Trust from the Housing Partnership, we
started this process, and she provided good leadership in how we should go about this financial plan.
Donna Kalinick then went from the top of the spreadsheet and explained it line by line. The Select
Board has a policy that the Housing Trust receive 50% of the projected short term rental revenues in our
financial forecast. Then they looked across 5 years to see what the expenses of the housing program
would be looking toward a balance. She went over the Housing Coordinator position and the possibility
of an assistant position coming on at 19 hours/week. Then the Rental Assistance Program, the Trust gets
statistics on who is using that program, and we can provide that information for the CPC at future
meetings. They will apply for future funding from the CPC after the initial 3 years of the program. The
current buy-down program, that is almost running out, and we did put money in FY24 and FY26 for the
buy down program. You did assist us with the Housing Production Plan update, and in 5 years we will
need to update that again. Jill Scalise talked about the preservation of homes on our subsidized housing
inventory. We are working on a couple properties, but specifically for 212 Yankee Drive. Legal counsel
did provide us with what we could use CPA funds for and what would have to come out Trust funds. We
have included some money to come from the Trust that were not CPA eligible. Now that we have an
application for funding, there is the possibility that we will receive applications directly. We did put
$50,000/year into the financial plan for those purposes. Legal counsel did opine that we cannot use
strictly Housing Trust monies for purposes of applications that are not in Brewster. There is a nominal
amount for legal expenses in there.
Ned Chatelain added that one of his take-aways from this exercise, was just how diverse and complex
the Housing Program has become. It was encouraging and interesting to see what came out of the
numbers from the allocation formula and the numbers at the top of approximately $1M/year for funding
this program. Donna Kalinick said the next steps of the financial plan are they are looking to the CPC to
give input and then after that to bring it to the Select Board likely in February as part of the budget
documents. Tim Hackert said we would like to tell the Select Board that we consulted with the CPC,
worked with them so they supported this too.
Faythe said she is thinking about items that would come in front of the CPC that are outside the prevue -
a project up to 120% of area median income (AMI) is allowed under CPA but beyond the Trust’s
prevue. Donna Kalinick said up to 100% of the AMI allowed under the CPC statute and the Housing
Trust. Potentially up to 110% could be argued for, but anything above that, you would have to have a
Community Preservation Committee
Minutes of January 11, 2023 Page 3 of 6
special legislation trust to address those higher area incomes. Faythe said any regional requests are
outside of the Trust Budget but within our budget. Donna Kalinick said we are not accounting for
outside requests that you may get that are either in Brewster or regional. She said if you are going with
the 30% allocation, and you fund all the programs for the Town of Brewster, it doesn’t leave you with a
lot of money for applications outside of Brewster. These are our assumptions we are making but are
hoping will help you in your process. Faythe said this is helpful in combination with our Public Hearing
for all the projects we are going to be funding.
Elizabeth said several other towns have come to the CPC to obtain funding. She wondered if the Trust
will also try to do that for additional funding. Donna Kalinick said it isn’t the Trust that would go to the
other towns for funding, it would be the awarded developer that would go to the other towns requesting
funding.
Christine asked if there was going to be multiple housing projects that we are going to be funding, is
there a way to give the builders a scale system. Should there be a scale in terms of getting additional
monies for doing something more efficient, resilient, and environmentally conscious or not. Donna
Kalinick answered that there is a rating system involved – the most energy efficient building that is done
under affordable housing, and the developer is proposing doing that. If the Trust is leading the request
for proposal, the Trust can ask for things like that.
Faythe said with our original formula, we do have money available in the 30% bucket that will carry
forward, and that money can be used for Rec, Historic, or Housing.
Tim Hackert thanked the Financial Team for doing all this work. He thinks this will give us a good base
to move forward. Faythe said she thinks this should be an annual meeting.
4.Discussion of projected BAHT funding requests to the CPC
Tim Hackert said Donna Kalinick has already gone through this while going through the financial plan
and asked if there were any further questions. They consist of:
Housing Coordinator
Rental assistance
Preservation of SHI
Buy Down Program
Housing Production Plan
Mill Stone
Legal expenses
These result in just under the 30% target over the 5-year moving average. Faythe asked if there were any
further questions. None seen.
5.Consideration of annual funding for BAHT from CPC
Community Preservation Committee
Minutes of January 11, 2023 Page 4 of 6
Tim Hackert said that is really driven by the Housing Production Plan which are on regional
development and local housing. Paul has done some work on this and would provide the committees
with his thoughts.
Paul said, as a Housing Trust person, it is clear from the financial plan there will likely be Housing Trust
requests every year to the CPC. Over the last 5 years, the Trust has submitted requests under the rubric
of particular programs or activities. One of the things they are starting to see with the evolution of
increasing numbers from the housing trust over the years, they are seeing requests for general funding
without reference to specific programs to carry on any CPC Housing eligible activity. The inclination
would be to ask for specific program requirements. This Trust is 5 years old now, and I think our Trust
has been successful with incredible town staff support. We are in a position where we can say we have
established a track record and would like to request a specific amount to be able to carry on CPC eligible
housing development opportunities. As referenced in the Housing Production Plan, the town of
Hingham has something called the Housing Opportunity Fund where they provide a certain amount
every year to be used to take advantage of opportunities which future affordable homes could be build. It
got him thinking about how useful this would be to have a source of funds available to us that aren’t tied
to CPC funding allocations so we could leap on an opportunity. Donna Kalinick said one of the
challenges we have had is that it takes a long time for us to be able to do something. Because of that, we
often have to come back in front of the CPC to request more time – we wish housing were nimble, but it
is not.
Tim Hackert said one thing that would be useful would be to identify a parcel and then have the ability
to buy it without having to go through an extended approval process. So in terms of what Paul was
saying, we need a financial source where we can go deal with opportunities and don’t have to go
through the whole long approval process. This would be a “pot” dedicated to X, it would be these are
significant projects that do not work within the ordinary funding parameters. Sarah said, as a practical
point of view, when you are talking about being able to purchase properties, my guess is you would try
to be purchasing lower priced properties. Are we in competition with first time homebuyers? Tim
Hackert answered, there is an issue on Cape where the available land keeps getting smaller which drives
up prices. You have issues with developers building “McMansions” and people who are trying to set up
affordable housing. The real need is the workforce housing as opposed to putting in another “Goldman
Sachs subdivision.” Tim Hackert is thinking vacant land as opposed to already developed residential real
estate. Donna Kalinick added that the Trust is bound by the CPC rules, restrictions, and policies for any
CPC funds. The Trust becomes the custodian of that money. Tim Hackert said he believes the next step
is for the Trust to put together a general concept – what it would be used for, how to set up, what would
we be thinking of in terms of the annual commitment subject to annual oversight and reporting, etc.
Faythe agreed.
6.Potential funding and administration of the affordable home buy-down program
Jill Scalise said it has been great to listen in on the discussion on all these items so far. Right before the
meeting, she sent out an updated information sheet also available to members at Town Hall and will get
added to the packet. We have a current Subsidized Housing Inventory (SHI) resale that will need to be
discussed. There is a decision that will need to be made in the next month. Last Thursday, the town
received notice of the intent to sell a condo on Yankee Drive purchased in 2010 with a buy down grant.
Housing Assistance Corporation (HAC) is the monitoring agent, and they will be working on the resale
of the property. This is a property with an affordable deed restriction that we need to watch, or we could
lose it on the subsidized housing inventory. The maximum resale price is $255,476. That is not
Community Preservation Committee
Minutes of January 11, 2023 Page 5 of 6
affordable at 80% area median income. The fair market value is lower than the maximum resale price or
adjusted value. It doesn’t end up being much less than fair market value. There is also a $300 monthly
association fees. For this property to be affordable, the monthly housing cost would be $1,901. 80% of
AMI is $1,958. This is a mortgage calculator provided by the DHCD. She went through the calculator
for this housing. If it were $206,000, it would be affordable at 80% of AMI, but the goal for DHCD
would be 70% of AMI which is $17,113. This is a situation where the $30,000 buy-down will not bring
the property down to an affordable amount. We are dealing with increased interest rates. As interest
rates go up, that means folks cannot afford as much of a mortgage. When the town receives notice of
intent to sell, the town has 15 days to decide if they were going to look to locate an eligible purchaser.
The Select Board has chosen that the town will look to locate an eligible purchaser. This goes into the
larger discussion of the Buy Down Program, what it does, providing up to $30,000 for eligible buyers to
purchase a home in Brewster requiring an Affordable Deed Restriction on the loan.
Ned Chatelain said this is a real eye opener, it goes to the intractable nature of this problem. If we get
involved in the sale, do we have any control of the deed rider used at the next closing. Jill Scalise said
the answer should be yes. This was a very early buy down in 2010, so some of the protections we have
in place now were not all in place in 2010. There is a requirement now that a universal deed rider would
go onto the property. It is also listed in the guidelines of the Housing Trust. Faythe’s first reaction
$30,000/$50,000 is still low given the current housing market. If someone found a ranch home and
wanted to use the buy down to assist with that, would it enter the inventory? Jill Scalise answered that it
is complicated and depends on how it happened.
Paul said having worked with resale formulas, there isn’t one that always works perfectly. He knows
from the increase in interest rates is going to lead to larger need for larger amounts for buy down. You
could ask the CPC for a waiver for the $30,000 limit for this one, we would have $62,000 in the
program which would get it into the low 70’s which would increase the market for it. This would be
something, as a CPC member, I would entertain. Faythe said she would look at it to see if the number
would not be a set amount, but for the number to be calculated based on the individual scenario.
Elizabeth said it would be great to be completely flexible with applications. She knows $30,000 has
nothing to do with reality as other towns are doing $50,000/$100,000/$150,000 or more. It would be a
lot more sensible than what we have now. Ned Chatelain said, moving forward, how do we want to
understand the Buy Down Program- many times it is to preserve existing units and only a few new units.
We looked at how much it would be to bring a median priced home to affordable, and it would be
$300,000. This exercise goes to the point that it has been an effective tool to keep units on the SHI list.
He would support taking the stance that we take these requests one by one and then start focusing on
using this to preserve existing units. Donna Kalinick said she thinks one of the things needed to be
discussed is who is going to be the custodian of this program going forward. If the CPC uses this
balance to assist this home, it will bring it down to 0. The next application round would be for
November Town Meeting, if something were to come up before that, this is one of those areas where we
need to figure out what this program looks like in the future. The requests come to the CPC. Jill does the
leg work for each one of these which is substantial. When the program was created there was no
Housing Trust. It was promoted by the Housing Partnership at the time.
Tim Hackert said he thinks the consensus would be we need to continue the program. Then, should CPC
or the Trust oversee it, how to fund it, and operationally, what changes need to be made. Jill Scalise said
she would add the main point of what entity would oversee the program doesn’t have to be decided
tonight, but to be thought through and a decision made before another application goes through. Faythe
Community Preservation Committee
Minutes of January 11, 2023 Page 6 of 6
said she would prefer this belong to the Trust. We have great expertise on the CPC, but you are all about
housing. Sarah agreed. Bruce as well. Sharon said previously the buydown program was
$30,000/buydown; now it looks like $50,000, so would that increase in the 5-year plan, increasing
requests or just lessen the number of buydowns you could do. Donna Kalinick said if we went with the
$50,000, we would be able to do 6. If we went through the funds quicker than FY26, we would put in an
application sooner. It was an estimate/a forecast. Jill Scalise said we have averaged one buydown/year
over the past few years. Ned Chatelain said from an operation perspective, this goes back to Paul’s point
about lump sum funding to the Trust with clear guideposts, but less project-based funding. If we had the
flexibility to do that, there would be benefit there.
Paul said this was envisioned primarily as a preservation program and that should be continued. But the
other question is how much is enough to make it really reasonable and effective to use public funds for –
for him, once it gets up to the $300,000+ range, it isn’t a good use for public funds that could produce
more housing in another way.
Tim Hackert said the program needs to continue, the Housing Trust will oversee the program, we need
to look at the funding to see what the amount should be, the Trust needs to come back to you and say
what we think needs to happen in terms of its operation. Jill Scalise added if there is looking at a further
discussion, it would also be nice to bring in the Housing Partnership who was the impetus to start the
program in the beginning.
7.Upcoming meeting: Wednesday, January 25, 2023 at 4PM Hybrid
MOTION made by Vanessa Greene to adjourn the BAHT meeting at 5:47 pm. Donna Kalinick second.
Roll Call Vote: Maggie Spade-Aguilar - abstain, Ned Chatelain - yes, Vanessa Greene - yes, Donna Kalinick
- yes, Paul Ruchinskas - yes, Chair Hackert – yes
VOTE 5-yes 0-no 1-abstain
Maggie Spade-Aguilar had technical difficulties and therefore abstained.
MOTION made by Bruce Evans to adjourn the CPC meeting at 5:48 pm. Roland Bassett second.
Roll Call Vote: Paul Ruchinskas – yes, Roland Bassett – yes, Sharon Marotti – yes, Christine Boucher –
yes, Sarah Robinson – yes, Peggy Jablonski – yes, Chair - yes
VOTE 7-yes 0-no
Respectfully submitted, Beth Devine, Recording Secretary
Packet of additional documents available on website for public review.
BREWSTER COMMUNITY PRESERVATION GRANT
QUARTERLY PROJECT STATUS REPORT
Name of CPA Recipient: Habitat for Humanity of Cape Cod, Inc. Quarter Ending Date: December 31, 2022
Project Title: Brewster Red Top Road Community Housing
Project Representative/CPC Contact Name: Elizabeth (Beth) Hardy Wade, Director of Land Acquisition
Address: 411 Main St., Suite 6A, Yarmouth Port, MA. 02675
Telephone Number: 508-362-3559 x 24 Email: land@habitatcapecod.org
Amount: $100,000 # of Homes: 2
Project Status:
Permitting: The Town Clerk stamped ZBA decision was recorded at the Barnstable County Registry of
Deeds on January 24, 2022: BK 34849, PG 19; Subdivision Plan at: PB 694 PG 44. Habitat
closed on the donation of the two lots from Beth Finch on February 28,2022. Deed for
transfer of property at: BK 34935 PG 265.
Update: The regulatory agreement was recorded on October 20, 2022, at the Barnstable
Registry of Deeds at BK 35434 PG 166. The original copy was delivered to the Brewster
Town Planning office.
Infrastructure: 0% Complete: We had a final meeting with multiple town departments on December 21,
2022 to discuss the Town’s installation of water piping from Stony Brook Road to 26 Red
Top Road and into the property. The meeting went well, and we expect water installation
to begin the second week of January. Following that installation, Habitat will begin to
excavate some portion of the lots and prepare for major infrastructure work to begin.
Construction: 0% Complete: While we originally planned for a July 2023 wall raising, we are now looking
toward late fall 2023 to begin the volunteer build.
Volunteers:
Fundraising: Private fundraising continues in its outreach to foundations, private individuals, and faith-
based & community organizations. To date, we have secured two home-sponsorship
pledges, Peter Soule has pledged $50,000; and Mr. Ed Ebert and friends have raised over
$70,000 in funds to support the Veteran’s home to be built in honor and memory of
longtime Habitat volunteer, Bob Harding. CPC approved a $100k grant.
Update: We are pleased to report that Habitat was awarded $60,000 in FHLBB funding in
December 2022.
Homeowners: We are fine tuning our final marketing submission to send to DHCD by the end of January.
We hope to open applications in March 2023.
Events/Press:
A V A I L A B L E N O W !
A p p l i c a t i o n s a r e d u e b y F e b r u a r y 1 3 , 2 0 2 3
For more information, call Gael Kelleher at 508-771-5400
ext. 284 or email lotteries@haconcapecod.org
14 YANKEE DRIVE
BREWSTER MA 02631
2 bedroom, 1 bath, condo
Located conveniently in Brewster.
AFFORDABLE HOME OWNERSHIP
Brewster Community Preservation Committee
awarded $62,500 as a buydown resulting in the listed
price.
Resale restriction. Income and asset guidelines
apply.
Household
Size
Maximum
Income
$60,900
1
$69,600
2
$78,300
3 4 5
$86,950
$93,950
Eligible applicants can obtain a loan for the purchase price of the property. Primary residence
only. First time buyer with exceptions. The type of loan must comply with the Deed Restriction.
Household income must be at or below 80% of the Area Median Income of Barnstable County. (See
table above) Household assets must be no more than $75,000.
$192,976 $300/month condo fee